No, not short selling, that's socially unacceptable at present.
Today, the Jesse Livermore way is: GET LUCKY!...
...How is this "...the Jesse Livermore Way"? Mr. Livermore was a master speculator, especially on the short side but he was sometimes wrong, often early. In April we posted "As Promised, A Stock Tip":
Well, you stuck with me and I'll stick to my promise of a hot stock tip.
On page 254 of Edwin Lefevre's Reminiscences of a Stock Operator (online version)we read:
...At the same time I realise that the best of all tipsters, the most persuasive of all salesmen, is the tape....
Read the book, it's the best tip I've got.
If you do, you will receive an honorary membership in the Punchline Club because you will know this reference "How do you start an earthquake?" which is a play on another punchline "How do you start a hurricane?"
All this preamble [emphasis on amble -ed] comes to mind because I am looking for a down-move
(see: "Markets: Did we Fill the Gap?")
...However, there is at least a little movement at the sector level. The Amex Gold Bugs Index (HUI) is up 3% as it tries to break above the resistance shown below. The PowerShares Clean Energy ETF (PBW), Cyclical Index (CYC), Amex Networking Index (NWX), Semiconductor HOLDRS (SMH), and Natural Gas Index (XNG) are gaining more than 1%. The Regional Bank HOLDRS (RKH), yesterday's strongest group, is down 1%....MORE
With the S&P up 5 points I could use a Force Majeure type of event.
And how did Jesse's short of UNP work out?
San Francisco City Hall after the 1906 Earthquake.